LAKESHORE PARK CONSERVANCY

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1996

Legal Domicile

Principal Officer

RICHARD I ZIVI JR

Phone

8655841184

Tax Period

2024-07-01 to 2025-06-30

LAKESHORE PARK CONSERVANCY, founded in 1996, is a community nonprofit in the Recreation & Sports sector that reported $6.4M in total revenue in fiscal year 2024. Revenue fell 61% from the prior year — a significant decline worth monitoring. Expenses of $35.1M exceeded revenue, resulting in a 451% operating deficit.

Mission

DEVELOPMENT, CONSTRUCTION, AND OPERATION OF PARK, INCLUDING CONSTRUCTION OF FACILITIES IN ACCORDANCE WITH THE CORPORATION'S COMMUNITY OBJECTIVE OF PROVIDING PUBLIC RECREATION FACILITIES.

Program Service Accomplishments

Program 1

Expenses: $34,931,068

TO PROVIDE PLANNING, DEVELOPMENT, CONSTRUCTION, AND ADMINISTRATION FOR THE PARK FACILITIES IN ACCORDANCE WITH ITS COMMUNITY OBJECTIVE OF PROVIDING RECREATION FACILITIES. IN FISCAL YEAR 2025, THE...

TO PROVIDE PLANNING, DEVELOPMENT, CONSTRUCTION, AND ADMINISTRATION FOR THE PARK FACILITIES IN ACCORDANCE WITH ITS COMMUNITY OBJECTIVE OF PROVIDING RECREATION FACILITIES. IN FISCAL YEAR 2025, THE ORGANIZATION INCURRED AN ADDITIONAL 3,197,283 OF PROJECT EXPENDITURES RELATED TO THE DEVELOPMENT OF THE PARK. THESE EXPENDITURES ARE CONSIDERED PROGRAM RELATED, HOWEVER, THESE ARE CAPITALIZED AS PROGRAM CONSTRUCTION COSTS ON THE BALANCE SHEET UNTIL PROJECT COMPLETION. UPON COMPLETION OF EACH PROJECT, IT IS CONVEYED TO THE CITY OF KNOXVILLE AND RECOGNIZED AS PROGRAM EXPENSE. DURING FISCAL YEAR 2025, A PROJECT WAS COMPLETED AT A COST OF 34,389,875.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $6,044,880

Program Service Revenue $0

Investment Income $31,972

Other Revenue $289,703

TOTAL REVENUE $6,366,555

Expense Breakdown

Grants Paid $34,389,875

Salaries & Benefits $423,017

Fundraising Expenses $0

Program Expenses $34,931,068

Other Expenses $278,255

TOTAL EXPENSES $35,091,147

Year-over-Year Comparison

	2024	2023	Change
Revenue	$6,366,555	$16,208,242	-0.6%
Expenses	$35,091,147	$1,945,735	+17.0%
Net Income	$-28,724,592	$14,262,507	-3.0%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

⚠ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
SUSAN B HASLAM	CHAIRMAN & P	N/A	Officer Director	$0	$0	$0
CHARLES ANDERSON JR	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
L CAESAR STAIRIII	VICE PRESIDE	N/A	Officer Director	$0	$0	$0
THOMAS N MCADAMS	SECRETARY/TR	N/A	Officer Director	$0	$0	$0
JAMES A HASLAMIII	DIRECTOR	N/A	Director	$0	$0	$0
JOE ARMSTRONG	DIRECTOR	N/A	Director	$0	$0	$0
MARGARET RITCHIE	DIRECTOR	N/A	Director	$0	$0	$0
INDYA KINCANNON	DIRECTOR	N/A	Director	$0	$0	$0
JULIEANNE FOY	EXECUTIVE DI	40.00	Highest	$122,884	$0	$122,884

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2025	$6,366,555	$35,091,147	$17,139,754	$-28,724,592
2024	$16,208,242	$1,945,735	$48,661,049	$14,262,507
2023	$13,454,519	$356,441	$34,544,110	$13,098,078
2022	$6,010,930	$5,806,345	$19,542,630	$204,585
2021	$11,135,342	$247,786	$18,438,448	$10,887,556
2020	$361,035	$256,995	$7,406,449	$104,040
2018	$797,915	$222,546	$19,942,994	$575,369